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Reed Business Information sale is uncertain

Published on .

London—The sale of Reed Business Information appears uncertain due to troubles in financing any deal, according to a report in Wednesday's Financial Times.

The newspaper reported, "Reed Elsevier originally offered so-called ‘staple’ finance of $1.26 billion (£685m) in three separate packages and on slightly different terms, from a consortium of seven banks led by UBS." Now it appears that two banks in the consortium may be unable to hold up their end of the financing package attached to the deal.

"There are three bidders remaining at the third round of bidding: Bain Capital, TPG and Strauss Zelnick, the former nonexecutive director of Reed Elsevier who has teamed up with private equity group Apollo," the Financial Times

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